THE Economic and Financial Crimes Commission (EFCC) on Friday arraigned the General Manager of B.C. Madiebo Insurance Brokers Limited, Mr. Christopher Madiebo before Lagos High Court, Ikeja, for allegation of stealing the sum of N30, 606 million being property of the company, which he is a co-owner.
Madiebo, who arraigned before Justice Lateefa Okunnu on a six-count charge of theft, was alleged to have on or before July 24, 2009 stolen and converted for personal use the sum of N9.4 million entrusted in his care by the company.
The anti-graft agency also said that the defendant on August 24, 2009, with intent to defraud, stole and converted another sum of N2 million for personal use, claiming that it was a gift from the company.
Madiebo was also alleged to have stolen and converted N3 million from car insurance policy premium belonging to General M.I. Wushishi (rtd.) entrusted in his care as the General Manager of the insurance company.
The defendant was further charged with stealing and converting another N15 million for personal use on July 24, 2009
In addition, he was alleged to have on July 24, 2009 stolen and converted for personal use another N1million being proceeds of sales of Zenith Bank Plc and Fidelity Bank Plc shares.
He was also alleged to have stolen and fraudulently converted to personal use a sum of N202,000, being pension of one Mr. O.N. Nwosu.
EFCC said the six offences contravened section 390 of the Criminal Code Cap C 17 Laws of Lagos State of Nigeria 2003. The defendant pleaded not guilty to the charges and was remanded in custody. The matter has been adjourned to January 23, 2013 for trial.
